In a recent op-ed piece ("Reading Walden 160 years later," March 31), freshman Elizabeth Oka wrote, "Though capitalism certainly has its benefits for those in power and the elite, the middle and lower classes suffer."
This is a stunning statement that ignores centuries of evidence showing that capitalism benefits every member of society.
Class warfare should not exist in the 21st century. The above sentence was tacked on to her last paragraph. It was not the main point of Oka's piece, which encouraged Americans to give up TV, McDonald's and Facebook in order to leave time for nature and simplicity. However, this is a dangerous and common mistake that Tufts students should not make.
The case for capitalism is not a new one. However, I will use this as an excuse to defend it because, as Tufts students, we already hear a lot about its flaws.
Capitalism operates through voluntary exchange. One person has something another wants and gives it to him in exchange for something that the first person wants. They both agree to the transaction, so it is good for both of them. They are both better off after the trade.
Capitalism is not a zero-sum game, a fact made clear almost by definition. Wealth is created because individuals have strong incentives to fulfill each others' needs and work efficiently. No one suffers; rather, some just benefit more than others.
Even if you do not accept this logic, it is easy to conclude from its results that capitalism works for everyone. Our capitalist economy has created astounding growth over the past couple centuries. It is widely accepted, virtually as a rule of nature, that capitalist economies grow from quarter to quarter. They almost never shrink.
The poor actually benefit the most under a capitalist economy. Consumerism has made a wide variety of products and choices available to consumers who otherwise would not be able to afford them. The rich will always be able to afford the newest technology and the most beautiful clothes. But because of capitalism, even the poorest American now can enjoy a standard of living better than that of the rich a couple centuries ago.
The poor have far more options available to them than before. Even at minimum wage, only a couple days of work will let you buy a cell phone or iPod. Clothes are inexpensive. Moreover, Americans have too much food available to them that tastes too good. This is a problem unprecedented in human history. How has capitalism made the middle and lower classes suffer? They have more options available to them under capitalism and have the opportunity to make their lives better. No other economic system can come close to what capitalism offers.
Oka may think that people are better off without iPods, cell phones, cheap clothes or tasty food. But Americans do not. If Americans were convinced by the likes of Thoreau, then they would have stopped buying consumer products, worked less and spent their newfound spare time going into the woods to contemplate life. This clearly is not the case. Americans have material needs, and a capitalist system is the best way of providing for those needs.
Calls for simplicity will only go so far. It is an ideal. Capitalism isn't possible without government. Provision for public goods, protecting the environment and protecting basic rights are all essential government functions. Laissez-faire capitalism cannot solve everything. However, it is very important that we appreciate the power of the market to improve peoples' lives in the long run.
Xander Zebrose is a sophomore who has not yet declared a major. He can be reached at Alexander.Zebrose@tufts.edu.
